PIPA ELITE BREEDING: what changed
PIPA ELITE BREEDING
Largest movements
- Current investments +€750,000
up €750,000 (+300%), from €250,000 to €1.0m
- Receivables within one year +€474,343
up €474,343 (+211%), from €225,200 to €699,543
of which Trade receivables: +€316,778
- Tangible fixed assets +€466,609
up €466,609 (+75.4%), from €618,930 to €1.1m
of which Plant, machinery and equipment: +€456,336
- Cash +€420,087
up €420,087 (+106%), from €397,468 to €817,555
mainly Contributions, distributions and other (+€2.2m) and Depreciation (+€686,431)
- Stocks and contracts +€260,664
up €260,664 (+95.8%), from €272,167 to €532,831
- Reserves +€2.1m
up €2.1m (+159%), from €1.3m to €3.5m
- Contributions +€115,022
up €115,022 (+115%), from €100,000 to €215,022
- Debts +€110,590
up €110,590 (+34.6%), from €319,164 to €429,754
of which Debts within one year: +€96,747
- Depreciation +€362,978
up €362,978 (+112%), from €323,453 to €686,431
- Gross operating margin -€220,809
down €220,809 (-18.6%), from €1.2m to €963,906
- Taxes -€177,922
down €177,922 (-88.3%), from €201,519 to €23,597
- Staff costs +€103,572
up €103,572 (+162%), from €63,983 to €167,555
- Other operating charges +€39,934
up €39,934 (+506%), from €7,885 to €47,819
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,768,495 | €4,141,450 | +€2.4m | +134% |
| Fixed assets | 21/28 | €618,930 | €1,085,539 | +€466,609 | +75.4% |
| Tangible fixed assets | 22/27 | €618,930 | €1,085,539 | +€466,609 | +75.4% |
| Plant, machinery and equipment | 23 | €593,235 | €1,049,571 | +€456,336 | +76.9% |
| Furniture and vehicles | 24 | €15,227 | €9,852 | -€5,375 | -35.3% |
| Other tangible fixed assets | 26 | €10,469 | €26,117 | +€15,648 | +149% |
| Current assets | 29/58 | €1,149,564 | €3,055,911 | +€1.9m | +166% |
| Stocks and contracts in progress | 3 | €272,167 | €532,831 | +€260,664 | +95.8% |
| Stocks | 30/36 | €272,167 | €532,831 | +€260,664 | +95.8% |
| Amounts receivable within one year | 40/41 | €225,200 | €699,543 | +€474,343 | +211% |
| Trade receivables | 40 | €223,124 | €539,902 | +€316,778 | +142% |
| Other amounts receivable | 41 | €2,077 | €159,640 | +€157,563 | +7,587% |
| Current investments | 50/53 | €250,000 | €1,000,000 | +€750,000 | +300% |
| Cash at bank and in hand | 54/58 | €397,468 | €817,555 | +€420,087 | +106% |
| Deferred charges and accrued income | 490/1 | €4,729 | €5,983 | +€1,254 | +26.5% |
| Total equity and liabilities | 10/49 | €1,768,495 | €4,141,450 | +€2.4m | +134% |
| Equity | 10/15 | €1,449,331 | €3,711,696 | +€2.3m | +156% |
| Contributions | 10/11 | €100,000 | €215,022 | +€115,022 | +115% |
| Reserves | 13 | €1,349,331 | €3,496,674 | +€2.1m | +159% |
| Distributable reserves | 133 | €1,349,331 | €3,496,674 | +€2.1m | +159% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €319,164 | €429,754 | +€110,590 | +34.6% |
| Amounts payable within one year | 42/48 | €319,164 | €415,911 | +€96,747 | +30.3% |
| Trade debts | 44 | €45,301 | €371,420 | +€326,119 | +720% |
| Suppliers | 440/4 | €45,301 | €371,420 | +€326,119 | +720% |
| Taxes, remuneration and social security | 45 | €3,863 | €40,700 | +€36,837 | +954% |
| Taxes | 450/3 | €260 | €2,350 | +€2,090 | +805% |
| Remuneration and social security | 454/9 | €3,603 | €38,350 | +€34,747 | +964% |
| Other amounts payable | 47/48 | €270,000 | - | -€270,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €63,983 | €167,555 | +€103,572 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323,453 | €686,431 | +€362,978 | +112% |
| Other operating charges | 640/8 | €7,885 | €47,819 | +€39,934 | +506% |
| Gross operating margin | 9900 | €1,184,715 | €963,906 | -€220,809 | -18.6% |
| Operating profit (loss) | 9901 | €789,394 | €62,102 | -€727,292 | -92.1% |
| Financial income | 75/76B | €9,358 | €26,229 | +€16,871 | +180% |
| Recurring financial income | 75 | €9,358 | €26,229 | +€16,871 | +180% |
| Financial charges | 65/66B | €806 | €1,754 | +€948 | +118% |
| Recurring financial charges | 65 | €806 | €1,754 | +€948 | +118% |
| Profit (loss) for the period before taxes | 9903 | €797,945 | €86,576 | -€711,369 | -89.2% |
| Income taxes | 67/77 | €201,519 | €23,597 | -€177,922 | -88.3% |
| Profit (loss) for the period | 9904 | €596,426 | €62,980 | -€533,446 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €596,426 | €62,980 | -€533,446 | -89.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.